State of Alaska Department of Revenue Boosts Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

State of Alaska Department of Revenue raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,974 shares of the retailer's stock after acquiring an additional 5,480 shares during the period. Costco Wholesale makes up 0.6% of State of Alaska Department of Revenue's portfolio, making the stock its 24th biggest position. State of Alaska Department of Revenue's holdings in Costco Wholesale were worth $56,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth $31,000. NewSquare Capital LLC raised its stake in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Clear Investment Research LLC lifted its holdings in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after purchasing an additional 10 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at $58,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $2.82 during trading on Thursday, hitting $974.90. The company had a trading volume of 1,506,193 shares, compared to its average volume of 2,065,457. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market capitalization of $432.35 billion, a P/E ratio of 55.30, a price-to-earnings-growth ratio of 5.77 and a beta of 1.00. The stock has a 50 day simple moving average of $1,002.39 and a 200 day simple moving average of $981.12.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the business earned $3.78 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale's dividend payout ratio is 29.50%.

Insider Activity

In other news, EVP Gary Millerchip sold 1,100 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the transaction, the executive vice president now directly owns 11,165 shares in the company, valued at $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock worth $10,825,205 in the last three months. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho assumed coverage on Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial lifted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Loop Capital lowered their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Morgan Stanley raised their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,034.79.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.